Deloitte have released their annual report that details the world’s richest clubs.

Their latest Football Money League dossier has Real Madrid returning to the position of the globe’s wealthiest team as the Spanish giants overtake Manchester United.

Barcelona are the second richest, with the Old Trafford giants third. The report shows the three wealthiest clubs of this year’s list generated an astonishing €2.1billion of collective revenue, more than double the aggregate revenue of the same top three clubs 10 years previously (2007/08 season). Revenue of almost €200m was required to secure a place in this year’s top 20.

Other British clubs such as Manchester City (fourth), Liverpool (seventh) and Arsenal (ninth) make the top 20.

Madrid are the richest club in the world again (Image: EMPICS Sport)

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But there is no place for a Scottish team. Instead, Celtic make only the top 50. Deloitte say the Premiership champions are positioned somewhere between 40 and 50 with their exact placing still to be determined.

Rangers are outside the top 70 and again no specific position has yet been detailed.

However, the report does analyse Celtic’s finances. It says the club generated record revenue of £101.6m in season 2017/18. Unsurprisingly it attributes this cash haul to qualification for the Champions League and states it "accounts for 29 per cent of revenue".

Deloitte insist the failure to qualify for this season’s premier UEFA competition could be offset by the club’s recent record shirt sponsorship from Dafabet and the kit agreement with New Balance.

The report predicts Celtic "stand to benefit from a renewed sense of optimism in Scottish football" thanks to a highly competitive league including the resurgence of Rangers. It also points to the league agreeing a record TV deal for 2020/21 onwards.